More Pages

Members

Become A Member

Privacy Notice

Privacy Notice

Respecting your Privacy

Smart Money Cymru is committed to protecting our members’ privacy, as your credit union there are things we need to know about you – from your name and address to the payments in and out of your account.

Section 1

Why do we need your information?

We require information marked as mandatory for membership to either meet legal obligations or to enable us to perform our contract with you. Where you are not able to provide us with this information, we may not be able to open an account for you. Where we request further information about you not required for these reasons, we will ask you for your consent.

Section 2

How do we get information about you?

Some information comes directly from you when you fill in forms or speak to us; some comes from credit reference agencies or our partners. We also gather information from managing your account such as where deposits come from.

undertake statistical analysis, to help evaluate the future needs of our members and to help manage our business

To send you statements, new terms & conditions (including changes to this privacy statement), information about changes to the way your account(s) operate and notifications of our general meetings

For our legitimate interests

recover any debts owed to us

With your consent

maintain our relationship with you including marketing and market research (if you agree to them)

Section 3

Who do we share your information with?

We share some of your information with banks or our partners to enable us to accept payments to your credit union account and to enable us to make payments as requested by you. We also share some information with our regulators, credit reference agencies and other official bodies.

Sharing your personal information

We will disclose information outside the credit union:

to third parties to help us confirm your identity to comply with money laundering legislation

to credit reference agencies and debt recovery agents who may check the information against other databases – private and public – to which they have access to

to any authorities if compelled to do so by law (e.g. to HM Revenue & Customs to fulfil tax compliance obligations)

to fraud prevention agencies to help prevent crime or where we suspect fraud

to any persons, including, but not limited to, insurers, who provide a service or benefits to you or for us in connection with your account(s)

to other members when they view the members’ register which contains details of members’ names, joining and leaving dates, and mailing addresses

to our suppliers in order for them to provide services to us and/or to you on our behalf

to anyone in connection with a reorganisation or merger of the credit union’s business

other parties for marketing purposes (if you agree to this)

Credit rating agencies

In order to process credit applications you make we will supply your personal information to credit reference agencies (CRAs) and they will give us information about you, such as about your financial history. We do this to assess creditworthiness and product suitability, check your identity, manage your account, trace and recover debts and prevent criminal activity.

We will also continue to exchange information about you with CRAs on an ongoing basis, including about your settled accounts and any debts not fully repaid on time. CRAs will share your information with other organisations. Your data will also be linked to the data of your spouse, any joint applicants or other financial associates. This may affect your ability to get credit.

The identities of the CRAs, and their infomation notice about how they use your personal information, are explained in more detail on:

While countries in the European Economic Area all ensure rigorous data protection laws, there are parts of the world that may not be quite so rigorous and do not provide the same quality of legal protection and rights when it comes to your personal information.

Smart Money Cymru Credit Union does not directly send information to any country outside of the European Economic Area, however, any party receiving personal data may also process, transfer and share it for the purposes set out above and in limited circumstances this may involve sending your information to countries where data protection laws do not provide the same level of data protection as the UK.

For example, when complying with international tax regulations we may be required to report personal information to the HM Revenue and Customs which may transfer than information to tax authorities in countries where you or a connected person may be tax resident.

Section 4

How long do we keep your information?

Retaining your information

We will need to hold your information for various lengths of time depending on what we use your data for. In many cases we will hold this information for a period of time after you have left Smart Money Cymru Credit Union.

We will not retain your personal information for longer than is necessary for the maintenance of your account, or for as long as regulations or the law says we have to, if that’s longer.

Section 5

How can you see it?

Your Rights

Your rights under data protection regulations are:

(a) The right to access

(b) The right of rectification

(c) The right to erasure

(d) The right to restrict processing

(e) The right to data portability

(f) The right to object to data processing

(g) Rights related to automating decision-making and profiling

(h) Right to withdraw consent

(i) The right to complain to the Information Commissioner’s Office

Your rights explained

Right to Access

You have the right to access your personal data and details of the purposes of the processing, the categories of personal data concerned and the recipients of the personal data. Providing the rights and freedoms of others are not affected, we will supply to you a copy of your personal data upon request with notice.

The right to rectification

You have the right to have any inaccurate personal data about you corrected and, taking into account the purposes of the processing, to have any incomplete personal data about you completed.

The right to erasure

In some circumstances you have the right to the erasure of your personal data without undue delay.

Those circumstances include:

the personal data is no longer needed for the purpose it was originally processed

you withdraw consent you previously provided to process the information

you object to the processing under certain rules of data protection law

the processing is for marketing purposes

the personal data was unlawfully processed

However, you may not erase this data where we need it to meet a legal obligation or where it necessary for the establishment, exercise or defence of legal claims.

The right to restrict processing

In some circumstances you have the right to restrict the processing of your personal data.

Those circumstances are:

you contest the accuracy of the personal data;

processing is unlawful but you oppose erasure;

we no longer need the personal data for the purposes of our processing, but you require personal data for the establishment, exercise or defence of legal claims; and

you have objected to processing, pending the verification of that objection. Where processing has been restricted on this basis, we may continue to store your personal data.

We will only otherwise process it:

with your consent;

for the establishment,exercise or defence of legal claims; or

for the protection of the rights of another natural or legal person;

The right to object to processing

You have the right to object to our processing of your personal data on grounds relating to your particular situation, but only to the extent that the legal basis for the processing is that the data is necessary for the purposes of the legitimate interests pursued by us or by a third party.

If you make such an objection, we will cease to process the personal information unless we can demonstrate compelling legitimate grounds for the processing which override your interests, rights and freedoms, or the processing is for the establishment, exercise or defence of legal claims.

You have the right to object to our processing of your personal data for direct marketing purposes (including profiling for direct marketing purposes). If you make such an objection, we will cease to process your personal data for this purpose.

The right to data portability

To the extent that the legal basis for our processing of your personal data is:

(a) consent; or

(b) that the processing is necessary for the performance of our contract with you

You have the right to receive your personal data from us in a commonly used and machine-readable format or instruct us to send this data to another organisation.This right does not apply where it would adversely affect the rights and freedoms of others.

Rights related to automatic processing

This credit union uses an automated decision making process for processing members’ loan applications to make sure that our decisions are quick, fair, efficient, and correct based on what we know.

Set policies e.g. the credit union does not lend to those less than 18 years of age, or the credit union does not lend to people with over a certain value of county court judgements.

The predicted likelihood of the repayment of the loan based on the statistical analysis of whether individuals who had a similar credit profile repaid their debts in the past.

Members have the right to have the decision reviewed by a member of staff, express their point of view, and obtain an explanation of the decision and challenge it.

Right to withdraw consent

To the extent that the legal basis for our processing of your personal information is your consent, you have the right to withdraw that consent at any time. Withdrawal will not affect the lawfulness of processing before the withdrawal.

The right to complain to the Information Commissioner’s Office

If you consider that our processing of your personal information infringes data protection laws, you have a legal right to lodge a complaint with the Information Commissioner’s Office which is responsible for data protection in the UK.You can contact them by:

For more information about how your rights apply to your membership of the credit union or to make a request under your rights you can contact us info@smartmoneycymru.co.uk or 029 2088 3751. We will aim to respond to your request or query within one month or provide an explanation of the reason for our delay.

Contact details

Membership Team

64-66 Cardiff Road

Caerphilly

CF83 1JQ

029 2088 3751

info@smartmoneycymru.co.uk

Changes to our privacy notice and privacy policy

We can update this Privacy Notice and the online Privacy Policy at any time and ideally you should check them regularly for updates. We won’t alert you for every small change, but if there are any important changes to either Policy or how we use your information we will let you know and where appropriate ask for your consent.